Sunpower (SGX-5GD) - Sun is rising amidst darkness in the market.
Recently Sunpower caught my eye with this article published by nextinsight:
On the technical side of things I noticed an interesting chart pattern.
Important discoveries on the weekly chart above:
- Volume during downtrend was thin and recently there is an increase in vol.
- Today on 14.6.2018, it broke out of its mid term downtrend line and pierced above its 10 week ma and 30 week ma.
Monthly chart
- Notice how sunpower backtested the previous resistance turned support on the monthly chart.
This bullish price action on the weekly charts warrants our attention and I have took positions at 0.55 with a short term tp of 0.60, please dydd, this is not a buy or sell call.
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